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The man who saved the British pasty and sausage roll from the Chancellor of the Exchequer’s attempt to slap VAT on hot snacks is quitting Greggs the baker to join catering supply giant Brakes.

Ken McMeikan, who collected more than 300,000 signatures on his Save our Savouries petition within weeks of this year’s Budget, forcing George Osborne into an embarrassing U-turn, could be on the way to making a small fortune as the new chief executive of Brakes if, as looks likely, the business floats on the stock market in the next couple of years.

Brakes has annual sales of more than £2.8 billion and is a leading supplier to the restaurants, pubs and hotels across the UK, Ireland, France and Sweden. It was bought by US private equity group Bain for £1.3 billion in 2007.

An initial public offering could see it valued at some £2 billion with serious share-option plans offered to senior management.

McMeikan has led Greggs since 2008 and transformed the High-Street baker by introducing centralised production and distribution and extending it down into the South of England.

The 47-year-old former Royal Navy electronic warfare expert — who served during the Falklands War — has previously worked for Tesco and Sainsbury. He also campaigned against the Government’s work placement scheme and is a major backer of primary school Breakfast Clubs.

He will remain at Greggs until a successor is found.

Chairman Derek Netherton said: “He has led the company through the major changes that have put us in a strong position with a clear strategy for growth in a difficult environment.”

McMeikan said: “It has been a great honour to lead Greggs since 2008. It is a wonderful company with fantastic people and I am enormously proud of all that we have achieved. There are many exciting growth opportunities ahead for the business and the team are well placed to deliver them.”

Greggs shares fell 13.8p to 472.7p today but have risen from around 300p during McMeikan’s tenure.